Alaska Administrative Code
Title 3 - Commerce, Community, and Economic Development
Part 1 - Banking, Securities, Small Loans and Corporations
Chapter 04 - Trust Companies
Article 6 - Organic Change
3 AAC 04.530 - Consolidation
Universal Citation: 3 AK Admin Code 04.530
Current through February 24, 2025
(a) A proposed consolidation of a national bank whose main office is located in the state or a state bank whose main office is located in the state with a trust company, or of a trust company with another trust company, shall be accomplished under a consolidation plan filed with and approved by the department.
(b) Each national bank, state bank, and trust company shall approve a consolidation plan that sets out
(1) the names of the national banks, state
banks, and trust companies proposing to consolidate and the name of the new
trust company into which they propose to consolidate;
(2) the terms and conditions of the proposed
consolidation;
(3) the manner and
basis of converting the shares of each national bank, state bank, and trust
company into cash or other property, or into shares, other securities, or
obligations of the new trust company; and
(4) any additional information requested by
the department, and that the department considers necessary to make an informed
decision on the proposed consolidation.
Authority:AS 06.26.650
AS 06.26.660
AS 06.26.900
Disclaimer: These regulations may not be the most recent version. Alaska may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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